Chorus Aviation Inc. (TSX:CHR.B) filed a Notice of Intention to commence a normal course issuer bid on February 20, 2013. Under the bid, the company will repurchase up to 11,087,520 Class A Variable Voting shares and/or Class B Voting shares, representing 10% of its public float and representing 8.94% of its issued and outstanding shares. The repurchases will be made in the open market through the facilities of the TSX in accordance with the rules and policies of the ... exchange. The shares repurchased will be cancelled. The bid is subject to approval from the TSX. The company believes that the market price of the shares during the period of the bid may be such that the repurchase of shares would be in the best interests of the company and an appropriate use of the corporate funds in light of potential benefits to the remaining shareholders. The bid is expected to commence from February 28, 2013 and will remain in effect for a period of 12 months. As of February 19, 2013, the company had 124,015,471 Class A and Class B shares issued and outstanding, of which 110,875,196 shares constitute the public float of Class A and Class B shares. On March 14, 2013, the company announced that the Toronto Stock Exchange has accepted its notice to make a normal course issuer bid. Under the bid, the company will repurchase up to 11,093,612 Class A Variable Voting shares and/or Class B Voting shares, representing 10% of its public float and representing 8.95% of its issued and outstanding shares. On any trading day, the company will not purchase more than 86,141 shares, except where such purchases are made in accordance with the block purchase exemptions under the TSX rules. The program will commence on or about March 18, 2013, and will remain in effect till March 17, 2014.
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